The bar chart compares the cost of an average house in five major cities over a period of 13 years from 1989.
Overall, it is clear from the bar chart that between 1990 and 1995, in most areas, prices went down, while between 1996 and 2002, costs rose substantially. Specifically, there was a sharp climb in the home market value in London.
Noticeably, during the first 5 years, the cost of houses in New York reduced by 5%, while there was a fall of 7% in both London and Tokyo. In contrast, housing prices increased by 2% in Madrid and Frankfurt.
On the other hand, from 1996 to 2002, New Yorkers had to pay slightly more than in the past, with an increase of 5%. Likewise, prices in London surged by nearly 12%, and Madrid saw a minimal peak of 4%. However, house costs in Germany and Japan declined by roughly 2% and 5% respectively.